# N.D. Cent. Code § 41-08-04: 41-08-04. (8-104) Acquisition of security or financial asset or interest therein

> North Dakota · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_ND_T41_C41-08_S41-08-04

## Section

- **Citation:** N.D. Cent. Code § 41-08-04
- **Heading:** 41-08-04. (8-104) Acquisition of security or financial asset or interest therein
- **Jurisdiction:** North Dakota
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** ND Code / Title 41 / Chapter 41-08 / Section 41-08-04

## Text

41-08-04. (8-104) Acquisition of security or financial asset or interest therein

1. A person acquires a security or an interest therein, under this chapter, if:

a. The person is a purchaser to whom a security is delivered pursuant to section

41-08-27; or

b. The person acquires a security entitlement to the security pursuant to section

41-08-41.

2. A person acquires a financial asset, other than a security, or an interest therein, under

this chapter, if the person acquires a security entitlement to the financial asset.

3. A person who acquires a security entitlement to a security or other financial asset has

the rights specified in sections 41-08-41 through 41-08-51, but is a purchaser of any

security, security entitlement, or other financial asset held by the securities

intermediary only to the extent provided in section 41-08-43.

4. Unless the context shows that a different meaning is intended, a person who is

required by other law, regulation, rule, or agreement to transfer, deliver, present,

surrender, exchange, or otherwise put in the possession of another person a security

or financial asset satisfies that requirement by causing the other person to acquire an

interest in the security or financial asset pursuant to subsection 1 or 2.

## Nearby sections

- [N.D. Cent. Code § 41-08-01 41-08-01. (8-101) Short title](https://www.frixlaw.com/law-library/statutes/STATE_ND_T41_C41-08_S41-08-01.md)
- [N.D. Cent. Code § 41-08-02 41-08-02. (8-102) Definitions](https://www.frixlaw.com/law-library/statutes/STATE_ND_T41_C41-08_S41-08-02.md)
- [N.D. Cent. Code § 41-08-03 41-08-03. (8-103) Rules for determining whether certain obligations and interests are securities or financial assets](https://www.frixlaw.com/law-library/statutes/STATE_ND_T41_C41-08_S41-08-03.md)
- [N.D. Cent. Code § 41-08-04 41-08-04. (8-104) Acquisition of security or financial asset or interest therein](https://www.frixlaw.com/law-library/statutes/STATE_ND_T41_C41-08_S41-08-04.md)
- [N.D. Cent. Code § 41-08-05 41-08-05. (8-105) Notice of adverse claim](https://www.frixlaw.com/law-library/statutes/STATE_ND_T41_C41-08_S41-08-05.md)
- [N.D. Cent. Code § 41-08-06 41-08-06. (8-106) Control](https://www.frixlaw.com/law-library/statutes/STATE_ND_T41_C41-08_S41-08-06.md)
- [N.D. Cent. Code § 41-08-07 41-08-07. (8-107) Whether endorsement, instruction, or entitlement order is effective](https://www.frixlaw.com/law-library/statutes/STATE_ND_T41_C41-08_S41-08-07.md)
- [N.D. Cent. Code § 41-08-08 41-08-08. (8-108) Warranties in direct holding](https://www.frixlaw.com/law-library/statutes/STATE_ND_T41_C41-08_S41-08-08.md)
- [N.D. Cent. Code § 41-08-09 41-08-09. (8-109) Warranties in indirect holding](https://www.frixlaw.com/law-library/statutes/STATE_ND_T41_C41-08_S41-08-09.md)
- [N.D. Cent. Code § 41-08-10 41-08-10. (8-110) Applicability - Choice of law](https://www.frixlaw.com/law-library/statutes/STATE_ND_T41_C41-08_S41-08-10.md)
- [N.D. Cent. Code § 41-08-11 41-08-11. (8-111) Clearing corporation rules](https://www.frixlaw.com/law-library/statutes/STATE_ND_T41_C41-08_S41-08-11.md)
- [N.D. Cent. Code § 41-08-12 41-08-12. (8-112) Creditor's legal process](https://www.frixlaw.com/law-library/statutes/STATE_ND_T41_C41-08_S41-08-12.md)
- [N.D. Cent. Code § 41-08-13 41-08-13. (8-113) Statute of frauds inapplicable](https://www.frixlaw.com/law-library/statutes/STATE_ND_T41_C41-08_S41-08-13.md)
- [N.D. Cent. Code § 41-08-14 41-08-14. (8-114) Evidentiary rules concerning certificated securities](https://www.frixlaw.com/law-library/statutes/STATE_ND_T41_C41-08_S41-08-14.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_ND_T41_C41-08_S41-08-04. Check the current official text before relying on it. Not legal advice.